<p> New Delhi: The government has hiked <a href="https://www.deccanherald.com/tags/windfall-taxes">windfall tax</a> on domestically produced crude oil to Rs 4,600 per tonne from Rs 3,300 per tonne with effect from Friday.</p>.<p> The tax is levied in the form of Special Additional Excise Duty (SAED).</p>.Interim budget focuses on capex. Will that address lacklustre demand?.<p> The SAED on export of diesel, however, has been cut to nil from Rs 1.50 a litre, according to an official notification.</p>.<p> On petrol and jet fuel or ATF, the levy has been retained at nil.</p>.<p> The new rates are effective from March 1.</p>.<p> India first imposed windfall profit taxes on July 1, 2022, joining a host of nations that tax supernormal profits of energy companies.</p>.<p> The tax rates are reviewed every fortnight based on average oil prices in the previous two weeks. </p>
<p> New Delhi: The government has hiked <a href="https://www.deccanherald.com/tags/windfall-taxes">windfall tax</a> on domestically produced crude oil to Rs 4,600 per tonne from Rs 3,300 per tonne with effect from Friday.</p>.<p> The tax is levied in the form of Special Additional Excise Duty (SAED).</p>.Interim budget focuses on capex. Will that address lacklustre demand?.<p> The SAED on export of diesel, however, has been cut to nil from Rs 1.50 a litre, according to an official notification.</p>.<p> On petrol and jet fuel or ATF, the levy has been retained at nil.</p>.<p> The new rates are effective from March 1.</p>.<p> India first imposed windfall profit taxes on July 1, 2022, joining a host of nations that tax supernormal profits of energy companies.</p>.<p> The tax rates are reviewed every fortnight based on average oil prices in the previous two weeks. </p>